Tomahawk County offers a defined benefit pension plan to all employees with at least 5 years of service (vested). The pension factor for this plan is 1.2%. As of the end of 2019, Maria, an employee, will have worked 14 years. Company accountants think that she will work 10 more years until retirement, at which time she will begin receiving annual pension payments. Maria makes $50,000 per year salary. The accountants also believe that Maria will probably leave with a $60,000 annual salary. The company is given a 4% interest rate. They expect that Maria’s retirement payments will be made for 25 years.

_______________4. Calculate the pension liability PBO for Maria for the end of 2020.

_______________5. Calculate the Prior Service Cost component of the pension liability PBO for Maria for 2020 if the pension factor is raised to 1.4%. The Prior Service Cost is the difference in the PBO under the new pension factor and the old pension factor.

Collins Corporation purchased office equipment at the beginning of 2019 and capitalized a cost of $2,072,000. This cost figure included the following expenditures: Purchase price $ 1,910,000 Freight charges 36,000 Installation charges 26,000 Annual maintenance charge 100,000 Total $ 2,072,000 The company estimated an eight-year useful life for the equipment. No residual value is anticipated. The double-declining-balance method was used to determine depreciation expense for 2019 and 2020. In 2021, after the 2020 financial statements were issued, the company decided to switch to the straight-line depreciation method for this equipment. At that time, the company’s controller discovered that the original cost of the equipment incorrectly included one year of annual maintenance charges for the equipment. Required: 1. Ignoring income taxes, prepare the appropriate correcting entry for the equipment capitalization error discovered in 2021. 2. Ignoring income taxes, prepare any 2021 journal entry(s) related to the change in depreciation methods.

Depreciation and Rate of Return

Burrell Company purchased a machine for $19000 on January 2, 2016. The machine has an estimated service life of 5 years and a zero estimated residual value. The asset earns income before depreciation and income taxes of $9500 each year. The tax rate is 35%.

Required:

Compute the rate of return earned (on the average net asset value) by the company each year of the asset's life under the straight-line and the double-declining-balance depreciation methods. Assume that the machine is the company's only asset.

Straight-line method. Do not round intermediate calculations. Round final answer to two decimal places.

2016: ____%

2017: ____%

2018: ____%

2019: ____%

2020: ____%

Double-declining-balance depreciation method. Do not round intermediate calculations. Round final answer to two decimal places.

2016: ____%

2017: ____%

2018: ____%

2019: ____%

2020: ____%

***Please show all work and calculations****

Marigold Enterprises has a December 31 fiscal year end and uses straight-line amortization to the nearest month for its finite-life intangible assets. The company has provided you with the following information related to its intangible assets and goodwill during 2020 and 2021:

1.) Record the transactions and adjusting entries as required. (2020,2021)

2.) Show the balance sheet presentation of the intangible assets and goodwill at December 31, 2021.

what do you think distinguishes our present understanding of epigenetics from Larmarck's, now debunked, theory referred to as the Inheritance of Acquired Characteristics Theory? How, in contrast, might our understandings of the epigenome actually give support to some elements of Lamarckism? What role does epigenetics play in the operation of Natural Selection?

Current marketing situation Federation University?

what is michael v. university about?

Hemming Co. reported the following current-year purchases and sales for its only product.

Jan. 1 Beginning inventory 205 units @ $10.20 = $ 2,091 (Units Acquired at Cost)

Jan. 10 Sales 160 units @ $40.20 (Units sold at Retail)

Mar. 14 Purchase 300 units @ $15.20 = 4,560 (Units Acquired at Cost)

Mar. 15 Sales 250 units @ $40.20 (Units sold at Retail)

July 30 Purchase 400 units @ $20.20 = 8,080 (Units Acquired at Cost)

Oct. 5 Sales 375 units @ $40.20 (Unites sold at Retail)

Oct. 26 Purchase 105 units @ $25.20 = 2,646 (Units Acquired at Cost)

Totals: 1,010 units acquired at cost, $17,377, 785 units sold at retail

(Required: Hemming uses a perpetual inventory system.)

1. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO.

2. Determine the costs assigned to ending inventory and to cost of goods sold using LIFO.

3. Compute the gross margin for FIFO method and LIFO method.

Review the basic requirements for a valid contract listed at the beginning of this chapter. Now consider the relationship entered into when a student enrolls in a college or university.

1. One group should analyze and discuss whether a contract has been formed between the student and the college or university.

2. A second group should assume that there is a contract and explain whether it is bilateral or unilateral

Chapter 3, Six Sigma (book: Quality Improvement)

1. Working as an individual or in a team of three or more people, use DMAIC to improve a process in one or more of the organizations listed below:
   1. Large Bank
   2. Health-care facility
   3. University academic department
   4. University nonacademic department
   5. Large department store
   6. Grade School
   7. Manufacturing facility
   8. Large grocery store